Montauk Renewables (NASDAQ:MNTK) Price Target Lowered to $3.00 at B. Riley

Montauk Renewables (NASDAQ:MNTK) had its target price cut by B. Riley from $4.00 to $3.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Montauk Renewables Price Performance

MNTK opened at $2.07 on Friday. The stock has a 50-day moving average price of $3.98 and a 200-day moving average price of $4.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market cap of $296.77 million, a PE ratio of 12.94 and a beta of -0.20. Montauk Renewables has a 1 year low of $2.06 and a 1 year high of $6.22.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.11). The company had revenue of $27.74 million during the quarter, compared to analysts’ expectations of $59.92 million. Montauk Renewables had a return on equity of 8.88% and a net margin of 11.80%. Sell-side analysts predict that Montauk Renewables will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Montauk Renewables

Large investors have recently modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new position in shares of Montauk Renewables in the 4th quarter worth about $25,000. Point72 Asia Singapore Pte. Ltd. raised its position in Montauk Renewables by 105.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock worth $26,000 after buying an additional 2,509 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in Montauk Renewables in the 4th quarter worth about $40,000. ABC Arbitrage SA purchased a new position in Montauk Renewables in the 4th quarter worth about $55,000. Finally, ProShare Advisors LLC raised its position in Montauk Renewables by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock worth $74,000 after buying an additional 6,117 shares during the last quarter. Hedge funds and other institutional investors own 16.35% of the company’s stock.

About Montauk Renewables

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.